FTSM

⚡ Flash Summary

FTSM announced: Board Meeting. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FTSM made announcement: Board Meeting
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FTSM. Manual verification required.

⚡ Flash Summary

First Tri-Star Modaraba (FTSM) announced the adoption of the audited accounts for the year ended June 30, 2025, following the Annual Review Meeting held on October 28, 2025. The resolution, pursuant to clause 5.6.9(b) of the PSX Regulations, includes the Directors’ and Auditors’ Report. This announcement indicates the completion of the financial review process and signifies compliance with regulatory requirements. Further analysis of the audited accounts is needed to understand the financial health and performance of the Modaraba.

📌 Key Takeaways

• ✅ Audited accounts for the year ended June 30, 2025, have been adopted.
• 🗓️ The adoption occurred at the Annual Review Meeting held on October 28, 2025.
• 📜 The resolution complies with clause 5.6.9(b) of the PSX Regulations.
• 💼 The Directors’ and Auditors’ Report is included in the adopted accounts.
• 🏢 The announcement was made by First Tri-Star Modaraba.
• 📍 The company is managed by A.R.T. Modaraba Management (Pvt) Ltd.
• 🇵🇰 The company’s registered address is in Karachi, Pakistan.
• 📞 Contact information includes phone numbers (021) 34370475-7 and (021) 34370470.
• 📧 The company’s email address is modaraba@tristar.com.pk.
• ℹ️ The adoption of accounts signifies the completion of a financial review period.
• 👍 This is a routine but necessary compliance step for listed entities.
• 🔍 Investors should review the actual audited accounts for financial performance details.
• ⚠️ No specific financial figures are provided in the announcement itself.
• 🧐 Further analysis is required to assess the impact on FTSM’s valuation.
• 🚦 The current announcement provides no immediate signal for significant investment changes.

🎯 Investment Thesis

Based solely on this announcement, a HOLD recommendation is appropriate. The adoption of audited accounts is a routine event, and without access to the actual financials, there’s no basis to change an investment stance. The price target remains unchanged until a review of the financial statements reveals new information.

⚡ Flash Summary

First Tri-Star Modaraba’s financial results for the quarter ended September 30, 2025, show a mixed performance. Revenue from academic activities decreased significantly compared to the same period last year, while operating profit increased due to other income. The company reported a higher profit before taxation, and earnings per certificate also increased. The statement of financial position shows an increase in total assets and equity compared to the previous quarter.

📌 Key Takeaways

• Revenue from academic activities decreased from Rs 22,267,261 in September 2024 to Rs 15,270,000 in September 2025 📉.
• Administrative expenses decreased from Rs 10,000,591 to Rs 8,433,175 📉.
• Other income increased significantly from Rs 6,471 to Rs 14,058,204 🚀.
• Financial charges increased from Rs 392,974 to Rs 736,745 📈.
• Operating profit increased from Rs 11,880,167 to Rs 20,158,284 🚀.
• Profit before levy and taxation increased from Rs 11,880,167 to Rs 20,158,284 🚀.
• Levy increased significantly from Rs 277,819 to Rs 2,299,606 📈.
• Profit before taxation increased from Rs 11,602,348 to Rs 17,858,679 🚀.
• Earnings per certificate increased from Rs 0.55 to Rs 0.84 🚀.
• Total Assets increased from Rs 586,596,073 to Rs 607,924,497 🚀.
• Cash and bank balances increased significantly from Rs 2,993,562 to Rs 25,432,670 🚀.
• Total certificate holders’ equity increased from Rs 353,377,679 to Rs 371,236,358 🚀.
• No cash dividend/Bonus/Rights/Any other entitlement was recommended by the board 🕳️.
• Cash generated from operating activities decreased from Rs 15,564,257 to Rs 8,380,904 📉.
• Cash and cash equivalent at the end of the year increased from Rs 15,116,886 to Rs 25,432,670 🚀.

🎯 Investment Thesis

Given the mixed financial performance, with decreased revenue growth offset by increased profitability and a stronger balance sheet, a HOLD recommendation is appropriate. The price target rationale is based on the potential for earnings growth driven by other income sources, but tempered by concerns over core revenue decline. A price target of Rs 10.00 is set, assuming a modest multiple on earnings. The time horizon is MEDIUM_TERM, as the company’s strategy needs to be further analyzed.

⚡ Flash Summary

FTSM announced: Transmission of Quarterly Financial Statements for the Period Ended 2025-09-30. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FTSM made announcement: Transmission of Quarterly Financial Statements for the Period Ended 2025-09-30
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FTSM. Manual verification required.

⚡ Flash Summary

FTSM announced: Transmission of Annual Report for the Year Ended 2025-06-30. Basic analysis suggests neutral sentiment. Professional review recommended.

📌 Key Takeaways

• FTSM made announcement: Transmission of Annual Report for the Year Ended 2025-06-30
• Automated analysis: HOLD signal detected
• Signal strength: 5/10
• This is basic analysis – manual review recommended
• Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FTSM. Manual verification required.

⚡ Flash Summary

First Tri-Star Modaraba has announced its Twenty Sixth Annual Review Meeting for certificate holders. The meeting will take place on October 28, 2025, in Karachi. Certificate transfer books will be closed from October 23 to October 30, 2025. This closure impacts the eligibility to attend the Annual Review Meeting, as transfers must be registered by October 22, 2025.

📌 Key Takeaways

• 🗓️ The 26th Annual Review Meeting is scheduled for October 28, 2025.
• 📍 The meeting will be held in Karachi.
• 🕒 The meeting starts at 9:30 am.
• 📚 Certificate transfer books will be closed from October 23-30, 2025.
• 📝 Transfers must be received by October 22, 2025, to be considered for meeting attendance.
• 🏢 Share Registrar’s office is the point of contact for transfers.
• 📜 The announcement is made ‘By Order of the Board’.
• 💼 Addressed to the Certificate Holders of First Tri-Star Modaraba.
• 📅 The notice is dated October 6, 2025.
• 📍 The location of the meeting is F/538, S.I.T.E., Karachi

🎯 Investment Thesis

Given the lack of financial information in this announcement, a HOLD recommendation is appropriate. Further analysis based on the company’s financial performance and strategic direction is needed to form a concrete investment thesis.